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What is a repossessed property?
When a homeowner is in financial difficulty, unable to meet their bond payments and all our attempts at payment rehabilitation have failed, Nedbank is left with no option but to repossess the home.
In selling the home to another buyer, our main objective is to offer financial relief for the previous property owner, while recovering the outstanding debt on the home loan account.
Benefits of buying a Nedbank-owned property
Property price
A repossessed property can be a good way to find a property at a lower cost.
No transfer duties
No transfer duty is payable, which is a substantial cost saving.
Outstanding payments
Nedbank pays all outstanding rates and taxes on the property until the date of registration or occupation, whichever occurs earlier.
What to consider about repossessed properties
Occupying the property
Nedbank does not guarantee vacant or immediate occupation of a repossessed property.
Registration timing
The repossessed property transfer process is more complicated and takes longer than the standard property transfer process.
Sold as is
The property is sold in its current condition, without any warranties.
Subject to sales
Nedbank will not accept any offer to purchase if it is tied to the sale of an existing property.
Reservation fees
Property purchase price |
Reservation fee |
|---|---|
R2,500 |
|
R7,500 |
|
R12,500 |
The reservation fee is a non-refundable deposit payable in cash or by electronic funds transfer. No cheques will be accepted. The amount payable for the reservation fee depends on the purchase price of the property. The reservation fee will be used towards the property transfer costs.
See pricing guide for 2023
Documents you’ll need to apply
How to buy a repossessed property
1. View properties
Browse through our repossessed properties to find one you’re interested in.
2. Offer to purchase
Get a Nedbank offer to purchase from PIPSales@Nedbank.co.za include the property reference number in the email subject line.
3. Submit offer
Send through your completed offer and documents to NOPOTP@nedbank.co.za
4. Agreement of sale
Read through the agreement of sale to make sure that you understand the terms and conditions.
See properties owned by Nedbank
Search propertiesWhen you click on Search properties, you will be leaving the Nedbank website because the platform to search for Nedbank-owned properties is powered by Private Property.
Nedbank Limited does not accept any liability for the information on Private Property's website, its accredited suppliers, their products and/or their services. You are responsible for verifying services rendered by Private Property.